we're seeing more application of technology as opposed to new technology being innovated. >> yeah. i think on some level it's a fair criticism. my own firm dates back to the success of carnegie steel and one of the founders of carnegie steel essentially founded our group to invest in additional innovative companies. and back then the development of steel manufacturing at scale enabled the creation of all sorts of things from metal which was fundamental and i suppose on some level we don't see that today. on the other hand, there are many sort of scientific or technical breakthroughs that contribute to applications as people learn to use them over time. facebook as an example isn't particularly technically innovative but it le regs all the computing power and data storage capability that had evolved from a number of scientific break throughs overtime. so i think it's fair to say that, you know, applications are less obviously innovative than a fundamental breakthrough but just as important. >> tom: give us an idea of an industry you think is poised for some of that breakthrough inno